PARIS, June 6 (Reuters) - European stocks extended their
rally on Friday, spurred by the European Central Bank's fresh
measures to boost the region's recovery and as investors
anticipated positive U.S. jobs data later in the session.

By 1100 GMT, the FTSEurofirst 300 index of top
European shares was up 0.4 percent at 1,385.13 points. The euro
zone's blue-chip Euro STOXX 50 index was up 0.5
percent.

The FTSEurofirst hit a 6-1/2 year high on Thursday after the
ECB cut interest rates, launched a series of measures to pump
money into the euro zone economy and pledged to do more if
needed to fight off the risk of Japan-like deflation.

"It's a game changer from the ECB, but let's keep in mind
that the impact on the real economy will take six to nine
months," said Christophe Donay, head of strategy at Pictet,
which has $446 billion in assets under management and custody.

"In the medium term, the decorrelation between the actions
of Fed and the ECB will work in the favour of European shares,
which remain cheaper than U.S. stocks and are poised to benefit
from flow dynamics because global investors are still
'underweight' Europe at the moment," he said.
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